Best Credit Cards for Seniors

Credit cards can be amazing tools that can help you better manage your money today and in the future. Depending on your goals and financial priorities, it’s possible to find credit cards that can help you live life to the fullest during retirement.

From cash back to travel rewards, there are ways to use credit cards to improve your finances and your prospects for the future. If you are looking for the perfect financial companion for your retirement adventures, consider some of these best credit cards for seniors.

Cash Back Credit Cards for Seniors

Earn cash back on purchases you make each day. Some of these credit cards have annual fees, but the potential rewards when used as part of your regular spending plan can easily outweigh the fees you pay. If you choose a cash back credit card, it’s important to pay off the balance each month to avoid incurring interest charges. Only use these cards to make planned purchases. Here are some of the best choices if you are looking for cash back:

Blue Cash Preferred^® Card from American Express

The Blue Cash Preferred^® Card from American Express, a Credit Cards House advertiser, allows you to earn 6% cash back at U.S. supermarkets on up to $6,000 per in purchases. You also earn 3% cash back at U.S. gas stations and 1% cash back on everything else. You don’t have to worry about rotating categories or enrollment every quarter. This is a great way to supercharge your cash back earnings without the need to think about whether or not something is eligible for a special category savings. You can also receive a $200 statement credit when you spend $1,000 in the first three months.

Features:

• Cash back comes in the form of statement credit
• Travel accident insurance
• Purchase protection and extended warranty
• Annual fee: $95
• APR: 0% introductory APR on purchases and balance transfers for 12 months, 18.49% - 29.49% variable after.

Citi^® Double Cash Card

With the Citi^® Double Cash Card from Citi, a Credit Cards House advertiser, you earn cash back twice on each purchase you make. You receive 2% cash back: 1% cash back on all your purchases and then as you pay for those purchases you get another 1% cash back. This is a very straightforward cash back credit card that rewards you consistently for purchases you plan to make anyway. You can also receive 0% APR on balance transfers for 18 months. There is no annual fee, which makes this card especially attractive for seniors.

Features:

• 2% cash back: earning 1% when you make a purchase and then another 1% when you pay for the purchase
• No rotating categories and no cap on reward earnings
• Annual fee: $0
• APR: 18.49% - 28.49% (Variable), (0% intro APR on balance transfers for the first 18 months)

Travel Credit Cards for Seniors

If you are interested in travel during retirement, you can stretch your dollars further with the help of the right travel credit card. Earn points for travel and redeem for amazing adventures with the following credit cards:

Chase Sapphire Preferred^® Card

One of the best travel credit cards out there is the Chase Sapphire Preferred^® Card. It comes with a signing bonus of 50,000 points when you spend $4,000 in the first three months. That’s worth about $625 in travel when redeemed through Chase Ultimate Rewards^®. You can also earn double points when you spend on travel and restaurants. If you like travel and dining out, you can boost your earnings and get more rewards.

Features:

• Named a “Best Credit Card” for Travel Rewards by MONEY magazine
• No foreign transaction fees
• Get 25% more value when you redeem for hotels, airfare, cruises, and car rentals through Chase Ultimate Rewards^®
• No blackout dates or travel restrictions
• 1:1 point transfer to leading hotel and airline loyalty programs
• Annual fee: $95 (waived the first year)
• APR: 20.24% - 27.24%, variable

Capital One^® Venture^® Rewards Credit Card

Another great travel credit card for seniors is the Capital One^® Venture^® Rewards Credit Card. This card comes with a signing bonus of 50,000 miles when you spend $3,000 during the first three months of account opening. That’s about $500 in travel. You receive two miles per dollar you spend on all purchases, and you don’t have to worry about expiring miles or blackout dates.

Features:

• Fly any airline or stay in any hotel
• No foreign transaction fees
• No cap on the number of miles you can earn
• Annual fee: $95 (waived the first year)
• APR: 20.24% - 28.24%, variable
• New card holders receive a metal Venture Card.

Barclaycard Arrival Plus^® World Elite Mastercard^®

If you’re looking for the best of both worlds, the Barclaycard Arrival Plus^® World Elite Mastercard^® can be a great choice. While the focus is on travel with this credit card, it also allows you to redeem your miles for cash back or gift cards. You get double miles on all purchases and there is a signing bonus of 60,000 miles when you spend $5,000 in the first three months. That’s enough for $600 toward travel.

Features:

• Get 5% miles back when you redeem, good toward your next rewards redemption
• No foreign transaction fees
• Miles don’t expire as long as your account is open, active, and in good standing
• Annual fee: $89, waived the first year
• 0% intro APR on balance transfers for 12 billing cycles, then regular APR
• APR: 18.24%, 22.24%, or 25.24%, variable

First published December 2, 2016, last updated June 3, 2021

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ABOUT THE AUTHOR

Miranda is a financial journalist and expert. Her work has appeared in numerous publications and she has contributed to NPR and appeared on other radio shows and TV. Miranda writes about money at PlantingMoneySeeds.com.

Learn more about Isabelle Lee

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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